1. Comparative Economic Planning

The basics of Economics

Economics

A social science that focuses on the production, distribution, and consumption of goods and services.

Microeconomics

The study of how individual consumers and firms make decisions to allocate resources.

Macroeconomics

The branch of economics studying the behavior and performance of an economy as a whole.

Positive Economics

A branch of economics that studies the relationship between two variables without giving value judgments.

Normative Economics

A branch of economics that involves value judgments and prescribes what ought to be.

Economic Growth

An increase in a country’s wealth and the expansion of industries and markets, often measured by GDP.

Human Development

An approach that emphasizes improving human well-being through access to education, healthcare, and a decent standard of living.

Social Development

The progression of society in terms of equality, justice, and social cohesion, including efforts to reduce poverty and improve education.

Political Development

The establishment of effective governance structures that uphold democracy, rule of law, and human rights.

Environmental Sustainability

The responsible use of natural resources and protection of ecosystems to achieve true development.

Economic Development

The process in which a country’s economy becomes more advanced.

Development Studies

An interdisciplinary field focused on improving economic conditions in developing countries.

Resource Allocation

The process of distributing available resources among various uses.

Market Economy

An economic system based on supply and demand with little or no government control.

Consumer Goods

Products intended for personal use by consumers.